The primary mechanism of this bill is the establishment of a government agency, euphemistically called a corporation, which is given the name "American Infrastructure Financing Authority." This agency is headed by a panel of seven presidential appointees (with the advice and consent of the U.S. Senate) not more than four of which can be from one political party. According to the text of the proposed legislation, five votes are necessary to approve funding for an infrastructure project. The purpose of this act is made clear on Senator Kerry's web page:
The BUILD Act is a bold solution that establishes an American Infrastructure Financing Authority (AIFA) - a type of infrastructure bank - to complement our existing infrastructure funding. This institution, which would provide loans and loan guarantees, would be both fiscally responsible and robust enough to address America’s needs. AIFA is independent of the political process.Thus, Senator Kerry and his co-authors desire to short circuit the representative process set out in the constitution. The goal, get tax payers on the hook for money borrowed under the full faith and credit and doled out by this unelected panel. The bill authorizes this agency to spend $10 billion a year for the first two years, $20 billion a year for years 3 through 9, and $50 billion a year thereafter. Where is that money coming from?
Contact your Senator and ask them to stop Senate bill 652 dead in its tracks.
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